Red Cedar Ventures invests in Niowave
East Lansing, MI — March 26, 2020 — Red Cedar Ventures (RCV) is pleased to welcome Niowave to its growing investment portfolio.
Niowave was founded in 2005 by former National Superconducting Cyclotron Laboratory researcher, Terry Grimm. Niowave’s core purpose is to manufacture radioisotopes to cure cancer and save lives. It is the only company in the world that can build and operate superconducting electron accelerators and is licensed by the NRC to work with radioactive materials, including uranium.
Located in Lansing, Niowave is looking forward to working with Spartan Innovations and Red Cedar Ventures to leverage its extensive support and assistance. “RCV has helped Niowave to better connect with the expertise at Michigan State University (MSU). We are currently working with Dr. Kurt Zinn Professor of Radiology and Biomedical Engineering, Director of Nuclear Medicine, Institute for Quantitative Health Science and Engineering, to apply for an SBIR with the National Cancer Institute,” stated Mike Zamiara, President & CFO of Niowave.
Zamiara has been with Niowave for over four years and brings FDA experience from his days as CEO of Orchid Orthopedics and COO of Emergent BioSolutions. “Cancer therapy is moving toward a more precise approach that doesn’t harm healthy cells. To do this, oncologists need access to medical isotopes that can be used for these new precision therapies,” stated Zamiara.
“We are honored to partner with the skilled and experienced professionals at Niowave,” stated Jeff Wesley, Executive Director of Red Cedar Ventures. “Niowave is on the cutting edge of medical radioisotopes and particle acceleration. We are proud to connect with this outstanding team and company. The ability to invest in a disruptive company while supporting the Mid- Michigan region is unique and an exciting opportunity for Red Cedar Ventures.”
“Niowave is a company that is on the leading edge of novel isotope technology. This has the potential for creating new radiation-based treatments for cancer where chemotherapeutics have failed,” Frank Urban, Director at Spartan Innovation explains. “We are excited to be working with Niowave in their efforts to develop and commercialize new medical breakthroughs to benefit patients with few alternatives. Spartan Innovations utilizes its resources to develop the plan, people and grant funding needed to launch new startup companies based on breakthrough technologies developed at Michigan State University (MSU). Niowave is working with MSU to develop these new radiotherapeutic technologies and demonstrate their effective potential for a new generation of radiotherapeutics,” Frank continued.
About Niowave: Niowave is a world-wide leader in research, development, manufacturing and operation of superconducting electron linear accelerators which are used for medical radioisotope production. Niowave received a 2016 Small Business Administration Tibbetts award and was named the 2010 SBIR/STTR Small Business of the Year for the US Department of Energy. Their highly skilled workforce was built by combining the scientific and technical expertise from nearby world-class universities and national laboratories and the advanced manufacturing skills from the local auto industry and community colleges.
About Spartan Innovations: Spartan Innovations (SI) is a wholly owned subsidiary of the MSUF. SI’s objective is to help drive MSU entrepreneurs to develop their ideas, create business plans and successfully launch highly technical businesses. SI sources its inventions through its close relationship with the MSU Technologies, the technology transfer arm of Michigan State University, which receives 175-200 unique invention disclosures every year from MSU faculty. This close collaboration provides SI the opportunity to identify and nurture early stage technologies that could serve as the foundation for a new venture. Once a project is identified, SI works with the inventors through a series of steps designed to drive towards an eventual entity formation.
About Red Cedar Ventures: RCV is a wholly owned subsidiary of the MSUF. Founded in 2014, RCV is proud to be the first venture fund in Mid-Michigan. RCV’s objective is to help accelerate commercialization of MSU startups and create opportunities for affiliated partners and technologies. Our vision is to be one of the leading Midwestern pre-seed venture funds providing economic impact for the region and the state with new companies, high-paying jobs and value-added partnerships. To date Red Cedar Ventures has deployed approximately $5M dollars in technology startups which have gone on to raise over $200M in outside capital. For more information please visit www.redcedarventures.com.